“Berkshire Hathaway boosts Alphabet to a top three holding, ups Delta and housing bets”

What actually happened

Berkshire's Q2 2026 13F filing showed Alphabet becoming its third-largest U.S.-listed equity holding, behind only Apple and American Express. The conglomerate also raised its Delta Air Lines and homebuilder stakes, and turned into a net stock buyer after 14 consecutive quarters of net selling.

Key facts

• Berkshire owned about 106 million Alphabet shares worth $37.9 billion at the end of June, a position that jumped 83% in the quarter, making it the third-largest U.S.-listed equity holding, behind only Apple and American Express.
• The increase largely reflects a $10 billion private stock purchase announced in early June, when Alphabet sought fresh capital to finance its massive AI infrastructure buildout.
• The Delta Air Lines holding climbed 44% during the quarter, to 57.3 million shares, valued at about $5.4 billion, after Berkshire had only recently returned to the airline following its pandemic-era exit.
• Berkshire boosted its Class A Lennar shares by nearly 30% to 13.1 million shares worth about $1.19 billion, while Class B holdings rose 25% to roughly 298,000 shares, and disclosed a small new D.R. Horton position of 3,600 shares.
• Berkshire ended a 14-quarter streak of net stock sales, becoming a net buyer with nearly $20 billion in net purchases, as cash fell to $365.5 billion from a record $397.4 billion three months earlier.

What to watch for

• Watch whether Berkshire's next 13F shows further open-market Alphabet buying, which would confirm genuine conviction beyond the private capital deal.
• The turn to net buyer after 14 quarters of selling is arguably the bigger structural story; check if coverage of the next filing foregrounds that shift or keeps burying it under single-stock headlines.
• Cash still sits above $365 billion, so the "buying spree" framing some outlets may adopt next quarter should be checked against how much of that pile actually gets deployed.